This isn’t an ETF entry, but I went to this journalism event at BusinessWeek last month. Steve Liesman of CNBC, FLoyd Norris of the New York Times, William Holstein the author of “Why GM Matters” and a guy from Credit Suisse.
Orla O’Sullivan of Bank Systems & Technology seemed to find my question about banker bonuses much more interesting than what the panelists were saying considering she put me in the lead of her story.
The markets may not have been too impressed with Treasury Secretary Geithner’s plan to deal with banks bad loans, but the audience at a recent Columbia University discussion BS&T attended on the economy loved the suggestion of one of the attendees. “Why not give the toxic assets to investment bankers as their bonuses?” financial journalist Lawrence Carrel rhetorically asked a panel partly composed of Pulitzer Prize winners.
After all, the now troubled assets were “their idea,” Carrel said of the I. Bankers. “They’d be taking on the risks but there’s the potential to make money too,” said Carrel, who wrote a recently published book on exchange traded funds, ‘ETFs For The Long Haul’.
And I like the way she adulterated the title of my book. LOL.
Maybe this toxic asset thing is a topic worth pursuing.